Warren Buffett Just Loves Goldman Sachs

Warren Buffett

Warren Buffett’s Berkshire Hathaway has agreed to convert its Goldman Sachs warrants into 43.5 million shares when the contracts expire in October, becoming the bank’s largest stockholder.

Bloomberg reports that the deal adds Goldman Sachs to Berkshire’s common-stock investments in U.S. banks including Wells Fargo and U.S. Bancorp.

Buffett had obtained the Goldman Sachs warrants as part of a capital injection he provided to the New York-based bank in September 2008.

'We intend to hold a significant investment in Goldman Sachs, a firm that I did my first transaction with more than 50 years ago', said Buffett. 'I have been privileged to have known and admired Goldman's executive leadership team since my first meeting with Sidney Weinberg in 1940'.

'We are pleased that Berkshire Hathaway intends to remain a long-term investor in Goldman Sachs', said Lloyd C. Blankfein, Chairman and Chief Executive Officer of Goldman Sachs.

Buffett to Convert Goldman Sachs Warrants Into Common Stock

Goldman Sachs Amends Terms of Warrants Held by Berkshire Hathaway (Goldman Sachs press release)

image: © MarkGregory007

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